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Citadel Files for Bankruptcy

Dec 21, 2009  •  Post A Comment

Radio company Citadel Broadcasting Corp., reeling under debt taken on when it merged with ABC Radio in 2006, filed for Chapter 11 bankruptcy on Sunday, the New York Times reports.

The company, which owns 223 stations and syndicates Don Imus on radio, has already reached an agreement with a majority of its creditors, which the company said it hopes will shorten the bankruptcy proceeding.

–Elizabeth Jensen

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